4. Suppose the cost function for machine A has the following characteristics:a. it is linear,b. when the machine is not producing parts the cost is $200,c. cost of producing each part is $4 (i.e., variable cost is $4 per part).Suppose the cost function for machine B has the following characteristics:a. it is linear,b. when the machine is not producing parts the cost is $270,c. cost of producing each part is $3 (i.e., variable cost is $3 per part).A. Find the cost equations for machine A; place in function form.Define your variablesB. Find the cost equations for machine B; place in function form.Define your variables (use variables that are different than variables used in Part A)C. Determine the break even point. (Determine this algebraically, not graphically; be sure to show your work.)D. Provide a graph of these two cost functions. Label the 1. Axes, 2. Break even point as an ordered pair, and 3. The two functions.E. To minimize cost, what production level (i.e., number of parts produced) should:1. Machine A be used? 2. Machine B be used? 5:35 1< Chapter 1 Practice Exer...Dexams4. Suppose the cost function for machine A has the following characteristics:a. it is linear,b. when the machine is not producing parts the cost is $200,c. cost of producing each part is $4 (i.e., variable cost is $4 per part).Suppose the cost function for machine B has the following characteristics:a. it is linear,b. when the machine is not producing parts the cost is $270,c. cost of producing each part is $3 (i.e., variable cost is $3 per part).A. Find the cost equations for machine A; place in function form.Define your variablesB. Find the cost equations for machine B; place in function form.Define your variables (use variables that are different than variables used in Part A)C. Determine the break even point.(Determine this algebraically, not graphically; be sure to show your work.)D. Provide a graph of these two cost functions.Label the 1. Axes, 2. Break even point as an ordered pair, and 3. The two functionsE. To minimize cost, what production level (i.e., number of parts produced)should:1. Machine A be used?2. Machine B be used?InboxDashboard188CalendarTo DoDNotificationsLTE

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Answered: 4. Suppose the cost function for…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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4. Suppose the cost function for machine A has the following characteristics: a. it is linear, b. when the machine is not producing parts the cost is $200, c. cost of producing each part is $4 (i.e., variable cost is $4 per part). Suppose the cost function for machine B has the following characteristics: a. it is linear, b. when the machine is not producing parts the cost is $270, c. cost of producing each part is $3 (i.e., variable cost is $3 per part). A. Find the cost equations for machine A; place in function form. Define your variables B. Find the cost equations for machine B; place in function form. Define your variables (use variables that are different than variables used in Part A) C. Determine the break even point. (Determine this algebraically, not graphically; be sure to show your work.) D. Provide a graph of these two cost functions. Label the 1. Axes, 2. Break even point as an ordered pair, and 3. The two functions. E. To minimize cost, what production level (i.e., number of parts produced) should: 1. Machine A be used? 2. Machine B be used?